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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: A few thoughts

Vette, agreed that we must be so close, and not suggesting this is far out. I'm going off rumour here, but think there was some back and forth between management and Tetra Tech on a few things, and wouldn't be surprised if Merit found some minor things to address. But any issues really should be done and sorted by now. I thought everything was getting signed off at the end of October as I take it Elmer was meeting with Tetra Tech then. But obviously not that signed off because we didn't see it then and are still waiting!

I have no doubt Teck has been looking at this closely. Nothing written anywhere saying that Teck couldn't be brought in to "consult" on it too. Elmer has said that they've been in communication with Teck engineers all along.

May it be as done as you are hearing. I think we're all more than ready for this drop.

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